By Marisa Wong
Morgantown, W.Va., Nov. 20 – Barclays Bank plc priced $5 million of contingent income autocallable securities due Nov. 16, 2018 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If Alibaba shares close at or above the downside threshold level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter of 3.125%.
The notes will be called at par of $10 plus the contingent coupon if Alibaba shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Barclays is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
Issuer: | Barclays Bank plc
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Issue: | Contingent income autocallable securities
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Underlying ADSs: | Alibaba Group Holding Ltd. (Symbol: BABA)
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Amount: | $4,997,850
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Maturity: | Nov. 16, 2018
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Coupon: | 3.125% each quarter if Alibaba shares close at or above downside threshold level on determination date for that quarter
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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Call: | At par plus contingent coupon if Alibaba shares close at or above initial share price on any quarterly determination date other than final determination date
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Initial share price: | $75.85
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Downside threshold: | $53.095, 70% of initial share price
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Pricing date: | Nov. 13
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Settlement date: | Nov. 18
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Agent: | Barclays
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Distribution: | Morgan Stanley Smith Barney LLC
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Fees: | 2.5%
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Cusip: | 06743T709
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